Hey fellow traders! I'd love to hear your firsthand experience trading the USD/JPY pair. Would you share any memorable experiences or difficulties you had when trading this currency pair? Tell this forum strategies or approaches that have worked well for you in navigating the unique dynamics of USD/JPY. Let's exchange some valuable insights
USD/JPY is an interesting pair. When it trends, it can go into really long trends with large movements that give you really good pips but when it goes into ranges, it can be really choppy too so choppy that no indicators in the world are fast enough to predict its tops and bottoms. So if you want to trade it, you REALLY really have to catch it when it's trending because it's ranging, it's really untradeable.
day range - only 0.5% So not that great for day trading. The last time I traded it was > 1 decade ago during the currency war. Forex coaches like to talk about how great it is to trade major currency pairs. That's why many members in this forum also talk about trading major currency pairs. JPY is ok for swing traders. But don't expect many trading opportunities.
Currency war, yes fun times! And the 400-pip move because BoJ devalued JPY in order to make JPY more competitive to provide relief for the Tsunami. It was a coordinated move with all of the central bankers from countries or all major currencies. They stayed completely silent until after the affect and then confirmed yes that was a deliberate devaluation by BoJ. That was astounding! Day range for this pair used to be bigger but it's been decreased in recent times.
Day range decreased in recent times huh? Helps to step back and look at the long term view once in a while. Past two weeks or so (yearly trend) and past 5 yyyyyyyyears:
Everyone, PM me for secrets to make 20,000 dollars a month just by trading USDJPY. No prior experience or knowledge necessary. Anyone can do it. Beats a boring office job or working hard to learn the mechanics and intricacies of financial trading. What are you waiting for?